What to trade on May 9-13?
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Stock market: Apple is vulnerable
2019-11-11 • Updated
Trade idea
SELL 178.60; TP 171.00; SL 180.50
There’s a way to bet on the increase in trade tensions between the United States and China that goes beyond the currency market. This way is to sell the stock of Apple Inc. as China is a big market for Apple, and the firm may be one of the main victims if China retaliates against American companies.
As you can see from the chart, its price is in a downfall since the end of April. The decline has erased 50% of gains made earlier this year.
Last week the stock closed below the 100-week MA (179.00). The decline below 50% Fibo at 178.60 will open the way down for a decline towards 170.30 (61.8% Fibo).
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